A Letter of Credit Amendment is essential when parties need to modify the terms of an existing Letter of Credit in international trade transactions. Under Swiss jurisdiction, this document must comply with both the Swiss Federal Banking Act and international banking standards like UCP 600. The amendment may be required due to various circumstances such as changes in trade terms, extension of validity periods, or modifications to shipment conditions. The document is particularly relevant in Switzerland's context as a major international trading and banking hub, where numerous multinational transactions are processed daily. It serves as a formal modification instrument that maintains the security and certainty that Letters of Credit provide while allowing necessary flexibility in international trade arrangements.
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1. Original Letter of Credit Reference: Details of the original LC including LC number, issuing bank, date of issuance, and beneficiary
2. Amendment Number: Sequential number of the amendment
3. Applicant Details: Full name and address of the applicant requesting the amendment
4. Beneficiary Details: Full name and address of the beneficiary of the LC
5. Amendment Details: Clear and specific details of what is being amended in the original LC
6. All Other Terms and Conditions: Statement confirming all other terms and conditions remain unchanged
7. Effectiveness Clause: Statement regarding when the amendment becomes effective (usually upon beneficiary's acceptance)
1. Extension of Expiry Date: Include when the amendment involves changing the expiry date of the LC
2. Change in Amount: Include when the amendment involves increasing or decreasing the LC amount
3. Document Requirement Changes: Include when modifying the required documentation under the LC
4. Shipment Terms Modification: Include when changing any shipping or delivery terms
5. Bank Charges: Include when there are specific charges associated with the amendment that need to be detailed
6. Special Instructions: Include when there are specific instructions for handling or processing the amendment
1. Original LC Copy: Copy of the original Letter of Credit being amended
2. Previous Amendments: Copies of any previous amendments to the LC, if applicable
3. Supporting Documents: Any relevant supporting documents justifying or explaining the amendments
4. Bank Authorization Form: Required bank forms or authorization documents for the amendment
5. Fee Schedule: Schedule of any applicable fees and charges for the amendment
Relevant legal definitions
Amendment
Original Letter of Credit
LC Number
Issuing Bank
Advising Bank
Applicant
Beneficiary
Banking Day
Confirmation
Credit
Documents
Expiry Date
Presentation
Swift
UCP 600
Applicable Law
Amendment Effective Date
Original Terms and Conditions
Modified Terms
Bank Charges
Place of Expiry
Negotiating Bank
Documentary Requirements
Shipping Terms
Port of Loading
Port of Discharge
Acceptance
Amendment Number
Governing Law
Notification
Original Letter of Credit
LC Number
Issuing Bank
Advising Bank
Applicant
Beneficiary
Banking Day
Confirmation
Credit
Documents
Expiry Date
Presentation
Swift
UCP 600
Applicable Law
Amendment Effective Date
Original Terms and Conditions
Modified Terms
Bank Charges
Place of Expiry
Negotiating Bank
Documentary Requirements
Shipping Terms
Port of Loading
Port of Discharge
Acceptance
Amendment Number
Governing Law
Notification
Clauses
Amendment Identification
Original LC Reference
Modification Details
Effectiveness
Acceptance Requirements
Bank Charges
Governing Law
Jurisdiction
Notice Requirements
Document Requirements
Expiry Terms
Amount Modification
Shipping Terms
Bank Instructions
Remaining Terms
Authorization
Banking Hours
Force Majeure
Compliance
Communications
Documentary Requirements
Payment Terms
Presentation Terms
Original LC Reference
Modification Details
Effectiveness
Acceptance Requirements
Bank Charges
Governing Law
Jurisdiction
Notice Requirements
Document Requirements
Expiry Terms
Amount Modification
Shipping Terms
Bank Instructions
Remaining Terms
Authorization
Banking Hours
Force Majeure
Compliance
Communications
Documentary Requirements
Payment Terms
Presentation Terms
Relevant Industries
Banking & Financial Services
International Trade
Import/Export
Manufacturing
Commodities Trading
Shipping & Logistics
Retail
Wholesale
Agriculture
Mining
Energy
Telecommunications
Construction
Pharmaceutical
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Treasury
Operations
Compliance
Risk Management
Finance
Legal
Customer Relations
Credit Administration
Trade Operations
Banking Operations
Relevant Roles
Trade Finance Manager
International Banking Officer
Documentary Credits Specialist
Import/Export Manager
Treasury Manager
Trade Operations Officer
Compliance Officer
Banking Relationship Manager
Finance Director
Chief Financial Officer
Trade Finance Analyst
Credit Manager
Banking Operations Manager
International Trade Specialist
Risk Management Officer
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